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The more that money is able to be split into smaller parts, the more it can accommodate the various scales of commerce within a society. While the dollar can only be divided into 100 pieces, and shaving bits of gold is difficult and inconvenient, a single bitcoin can easily and instantly be divided into 100 million pieces called satoshis. Uniformity (Fungibility) It is important for every unit of currency to be interchangeable with the next. For example, every $1 bill is worth the same as every other $1 bill, casino all inclusive resort poços de caldas avaliações. A non-uniform money supply can be subjected to coin-clipping, or someone could dilute the metals that make up a coin as is the case with gold and silver based money. Units of information based money like the digital USD and bitcoin are verifiably the same as any other unit. Since both the bitcoin ledger and the coins within it are tamper-proof information, secured by vast amounts of energy, it is immune to coin clipping, counterfeiting, and excessive money printing. There is debate as to whether or not a limited supply of money is optimal for an economy. A student from the school of Keynesian economics may argue that the ability to print money on demand helps stimulate the economy in times of depression. Whereas a student from the Austrian school of economics may argue that the money supply should be static and free from third party intervention, regardless of intent. I take the side of the Austrian school, and so I favor the limited supply of gold, and the absolutely finite supply of bitcoin. A limited supply of money means that the value of money can not be diluted by third parties which leads to the end users of money keeping more of their accrued wealth. It also means that the holders of money are likely to see their savings increase, rather than decrease in the case of an inflationary form of money, as can be the case with the USD. With bitcoin, there is an absolute fixed supply of 21 million coins. When the last bitcoin is mined, the circulating supply will have reached the cap of 21 million coins.
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